Avenue Therapeutics (ATXI) investor relations material

Executive summary

• Focused on developing therapies for neurologic diseases, with lead candidates ATX-04 for Pompe disease and IV tramadol for post-operative pain.

• No revenue recognized in Q2 2026; prior year included $1.4M from AnnJi license termination.

• Net loss for Q2 2026 was $0.7M, compared to net income of $0.3M in Q2 2025; six-month net loss was $1.4M, slightly improved from $1.5M in 2025.

• Accumulated deficit reached $106.9M as of June 30, 2026.

Financial highlights

• Cash and cash equivalents were $1.9M at June 30, 2026, down from $2.9M at year-end 2025.

• Research and development expenses were $0.2M for Q2 2026, flat year-over-year; six-month R&D was $0.4M, down from $0.6M in 2025.

• General and administrative expenses decreased to $0.5M in Q2 2026 from $0.9M in Q2 2025; six-month G&A was $1.0M, down from $2.4M.

• No financing cash inflows in 2026; prior year included $2.1M from ATM equity sales.

Outlook and guidance

• Expects continued operating losses as product candidates advance through development.

• Additional capital required to fund operations and clinical trials; current cash not sufficient for more than 12 months.

• Evaluating feasibility and financing for a pivotal Phase 3 study for IV tramadol and pre-IND meeting for ATX-04.